Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 27, 2020

Equity [Abstract]

Summary of Accumulated Other Comprehensive (Loss)

Following is a summary of AOCI(L) for the third quarter of 2020 and the third quarter of 2019:

(in thousands)	June 28, 2020		Pre-tax Activity		Tax Effect		September 27, 2020
Net pension activity:
Actuarial loss	$	(91,381)	$	1,189	$	(293)	$	(90,485)
Prior service costs	—		5		(1)		4
Net postretirement benefits activity:
Actuarial loss	(1,059)		88		(22)		(993)
Prior service costs	(624)		—		—		(624)
Interest rate swap	(1,283)		402		(99)		(980)
Foreign currency translation adjustment	(14)		15		(4)		(3)
Reclassification of stranded tax effects	(19,720)		—		—		(19,720)
Total AOCI(L)	$	(114,081)	$	1,699	$	(419)	$	(112,801)

(in thousands)	June 30, 2019		Pre-tax Activity		Tax Effect		September 29, 2019
Net pension activity:
Actuarial loss	$	(71,332)	$	901	$	(222)	$	(70,653)
Prior service costs	(15)		5		(1)		(11)
Net postretirement benefits activity:
Actuarial loss	(4,607)		196		(48)		(4,459)
Prior service costs	(136)		(324)		80		(380)
Interest rate swap	—		(496)		122		(374)
Foreign currency translation adjustment	(4)		(23)		6		(21)
Reclassification of stranded tax effects	(19,720)		—		—		(19,720)
Total AOCI(L)	$	(95,814)	$	259	$	(63)	$	(95,618)

Following is a summary of AOCI(L) for the first nine months of 2020 and the first nine months of 2019:

(in thousands)	December 29, 2019		Pre-tax Activity		Tax Effect		September 27, 2020
Net pension activity:
Actuarial loss	$	(93,174)	$	3,568	$	(879)	$	(90,485)
Prior service costs	(7)		14		(3)		4
Net postretirement benefits activity:
Actuarial loss	(1,191)		263		(65)		(993)
Prior service costs	(624)		—		—		(624)
Interest rate swap	(270)		(942)		232		(980)
Foreign currency translation adjustment	(16)		18		(5)		(3)
Reclassification of stranded tax effects	(19,720)		—		—		(19,720)
Total AOCI(L)	$	(115,002)	$	2,921	$	(720)	$	(112,801)

(in thousands)	December 30, 2018		Pre-tax Activity		Tax Effect		September 29, 2019
Net pension activity:
Actuarial loss	$	(72,690)	$	2,702	$	(665)	$	(70,653)
Prior service costs	(24)		17		(4)		(11)
Net postretirement benefits activity:
Actuarial loss	(4,902)		587		(144)		(4,459)
Prior service costs	351		(970)		239		(380)
Interest rate swap	—		(496)		122		(374)
Foreign currency translation adjustment	—		(26)		5		(21)
Reclassification of stranded tax effects	—		—		(19,720)		(19,720)
Total AOCI(L)	$	(77,265)	$	1,814	$	(20,167)	$	(95,618)

Summary of Impact of Accumulated Other Comprehensive Income (Loss) on Statement of Operations

Following is a summary of the impact of AOCI(L) on the condensed consolidated statements of operations:

	Third Quarter 2020
(in thousands)	Net Pension Activity		Net Postretirement Benefits Activity		Interest Rate Swap		Foreign Currency Translation Adjustment		Total
Cost of sales	$	363	$	55	$	—	$	—	$	418
Selling, delivery and administrative expenses	831		33		402		15		1,281
Subtotal pre-tax	1,194		88		402		15		1,699
Income tax expense	294		22		99		4		419
Total after tax effect	$	900	$	66	$	303	$	11	$	1,280

	Third Quarter 2019
(in thousands)	Net Pension Activity		Net Postretirement Benefits Activity		Interest Rate Swap		Foreign Currency Translation Adjustment		Total
Cost of sales	$	265	$	(67)	$	—	$	—	$	198
Selling, delivery and administrative expenses	641		(61)		(496)		(23)		61
Subtotal pre-tax	906		(128)		(496)		(23)		259
Income tax expense	223		(32)		(122)		(6)		63
Total after tax effect	$	683	$	(96)	$	(374)	$	(17)	$	196

	First Nine Months 2020
(in thousands)	Net Pension Activity		Net Postretirement Benefits Activity		Interest Rate Swap		Foreign Currency Translation Adjustment		Total
Cost of sales	$	1,057	$	160	$	—	$	—	$	1,217
Selling, delivery and administrative expenses	2,525		103		(942)		18		1,704
Subtotal pre-tax	3,582		263		(942)		18		2,921
Income tax expense	882		65		(232)		5		720
Total after tax effect	$	2,700	$	198	$	(710)	$	13	$	2,201

	First Nine Months 2019
(in thousands)	Net Pension Activity		Net Postretirement Benefits Activity		Interest Rate Swap		Foreign Currency Translation Adjustment		Total
Cost of sales	$	794	$	(200)	$	—	$	—	$	594
Selling, delivery and administrative expenses	1,925		(183)		(496)		(26)		1,220
Subtotal pre-tax	2,719		(383)		(496)		(26)		1,814
Income tax expense	669		(95)		(122)		(5)		447
Total after tax effect	$	2,050	$	(288)	$	(374)	$	(21)	$	1,367